Wednesday, March 29, 2006

Guesstimates on March 29 , 8:50 am ET

June S&P Futures: I think we shall see a brief dip below 1300 towards 1297 support and then a move up to 1328.  

June Bonds: So far there has been no follow-through to the downside breakout yesterday on the Fed news. This makes me think that the market is now going to rally to 111-18 before the drop into the 107-108 zone resumes.

June 10 Year Notes: Unlike the bonds the notes did not make new lows after the Fed news yesterday. I think this means that the market will rally to 107-30. After that the drop to 104 will resume.  

Cash US Dollar -Euro: I expect a break to 118.90. After that a move to 125.00 becomes likely.

May Crude: The next significant move will be downward to 56.80-57.20. I think that over the next few months the market will drop to 52.00 or lower.

April Gold: I think gold will rally to 574. It is acting noticeably weaker than silver so I think the bull market here is on its last legs.  

May Silver: Silver can make it up to 1108 before a substantial drop begins.  

Google: I am convinced that GOOG is on its way to 405 and then to 440 although a move to 495 no longer seems likely. Support is at 363.  

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